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Calculation of commission of a partnership firm

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 December 2018 Dear Sir's

A Partnership Firm have entitled a Commission on Book Profit @ 90% of First Rs. 75000/- or 100% of First Rs.50000/- whichever is more, 60% of the next Rs.75000/- and 40% of the Balance Book Profit " as per agreement made by the Partners.

Ratio of Shares are 70% & 30% accordingly.

The Firm having a Book Profit of Rs. 2,85,316/- during the year before the Partners Commission .

Would you please advice , how can we calculate the Partners Commission?

Its very much help us for accounting the same ? Waiting for your valued reply

Regards

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Expert : Anonymous

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Expert : Anonymous (Expert)
07 December 2018 Can You elaborate what You mean Commission...?

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 December 2018 Sir,this is Partners Remuneration not commission.






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